Third Party Risk / Vendor Risk Management

Identifying risk and opportunity in the supply chain “The impact – financial and reputational – is potentially unlimited. Moreover, the losses could be much larger than the value of the service provided by the vendor.” Eric Johnson, Dean, Vanderbilt University Graduate School of Management “A compromise anywhere in the supply chain can have significant impact and we find the smaller vendors are where our greatest risk can be.  You can’t overlook any of them.”   Senior Information Security Analyst at a Major Canadian Financial Institution “The amount of vendors that the companies and banks have to have oversight over, and due diligence for, poses a formidable issue.” Heather Wyson-Constantine, Senior Director of Cybersecurity, American Bankers Association

A suspension bridge is only as strong as its weakest link.  No matter how sturdy the main pillars are, the integrity of the entire structure rests on the strength of its smallest parts.  If any one of the individual cables should fail, it can lead to a chain reaction that would compromise the safety of the entire bridge.

That’s a lot like the situation today’s organizations face when it comes to vendor risk.  Companies partner with hundreds – or even thousands – of suppliers to deliver products and services. Every vendor, large or small, is a potential point of risk for the organization.

Vendor Risk Executive Overview ThumbnailDownload our Vendor Risk Executive Overview
Read about the trends that are affecting vendor risk and about Iceberg's program to help organizations gather trusted, transparent and timely information about their suppliers and third parties, giving them the agility to make informed and effective business decisions.

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